This article is about Crypto Best Hardware Wallets | Best Cold Wallet 2022, but before starting we will understand what Hardware wallet is and why we should use them.
What is Hardware Wallet
These wallets are physical devices that come in shapes and sizes. In short they store your private keys in a way that the private key never leaves the device. Also each transaction needs to be validated on the device itself. Because of these secure features your private keys are never exposed to your computer and to outside. If your computer has a virus or malware, you can still use these devices safely on that computer. If you’re wanting the best crypto security to guard that future fortune against remote attacks then you need a hardware wallet. The easy way to protect yourself is to buy directly from the hardware wallet company themselves.
Why Use Hardware Wallets ?
Most crypto newbies buy crypto using crypto exchanges and a convenient way and is minimal hassle but what’s the problem with that approach. If you’re fortunate enough to be keeping your coins on an honest exchange there is one major threat and that would be that exchange security problems are not exactly uncommon.
Many crypto holders in the space recommend that you store your coins in a wallet controlled by you, so that way you control private keys and are not reliant on any exchange. You can also control the private keys by using decentralized apps like trust wallet. However the problem with those types of wallet is that the private keys are exposed every time you connect the internet.
Because in today’s time you cannot trust completely by putting your entire fund on any exchange. Recently BitMart popular exchange is already got hacked. So putting your entire fund on any decentralized exchange or centralized exchange can be quite risky.
Some Best Hardware Wallets
This list of Best Hardware Wallets is shared below according to the security features they are providing and the number of supported cryptocurrencies.
1. Trezor Hardware Wallets
There are two types of air gapped Trezor i.e. Trezor One and Trezor Model T, so which one should you use? Let’s compare these hardware wallets, so that you can decide the best one for yourself.
Trezor Model One
Trezor Model One is recommended due to the reason that it comes with a Monochrome display + 2 buttons, so it becomes quite easy to use this device. If you want to use it you’ll have to plug it into your computer or phone with a USB-C connector.. If your budget is good, this device is available to you around 59 EUR and this wallet support 1000+ cryptos.
Trezor Model T
The Trezor Model T boasts support for the most cryptos of any Cold Wallet on this list. The model T also comes with a bigger touch screen functionality and you don’t need to connect it to any device for PIN entry, Passphrase entry, and Device recovery. There is a Micro SD card inside this device due to which the processing becomes very fast. The price of this cold wallet is 189 EUR and the supported coins and tokens are 1816. The Trezor Model T is expensive as compare with Trezor Model One but is more secure, and support more coin.
2. KeepKey Hardware Wallet
keepkey was founded all the way back in 2015 and was acquired by shapeshift (crypto exchange) in 2017. One of the main attractions of keepkey is its insanely reasonable price $49.00. It also got a significantly bigger screen than even that Ledger Xano X. It’s also got full integration with shapeshift, so that means that this wallet essentially has a full crypto exchange contained inside. If you want to trade crypto securely the device itself is secured by a pin code and backed up with seed words. KeepKey allows you to store over 40+ cryptocurrencies. It is not the widest selection, however you can combine keepkey with ether wallet and store any ERC20 token that’s around another 1000 cryptos.
- PIN protection
- Generate and manage your private keys offline
- Exchange cryptocurrencies via ShapeShift integration
- Manually approve transections.
- Passphrase protection 12 word that can be used to retrieve private keys.
- Customizable transaction speeds
- unlimited wallet addresses in single device
3. ELLIPAL Titan Hardware wallet
ELLIPAL titan is another Air-gapped hardware wallet comes in a price of $139.00$. This might be the most expensive wallet compared to others given below. If anyone tries to force the wallet open to tinker with it your keys will be deleted once a breach is detected thus protecting your wallet against physical attacks. The ELLIPAL titan relies on the sole use of QR codes.
For data transfer, it is never connected to things like USBs, Wi-fi or Bluetooth. Tis wallet is also pretty secure, easy to setup and use. It also supports over 7000 crypto assets. ELLIPAL also allows you to stake your coins earn interest exchange or buy crypto through its apps. This air-gapped crypto Cold Wallet supports multi-crypto and having a reasonable price.
4. Coldcard Hardware wallet
It’s safe to say that cold card is probably the most secure hardware wallet out there due to a host of security features. This is a Made in Canada crypto Cold Wallet that Secure your bitcoins. The price of this wallet is $129.97.
- Gives you the option to generate secondary keys beside for main wallet.
- If a person tries to brute force your pin then Coldcard has 13 maximum attempts limit.
- Another cool security feature is that you can operate completely unconnected to your pc. You can manage that bitcoin and use the device by just plugging it into a power bank or power adapter.
- This wallet only supports bitcoin.
- Not easy to use and time consuming for people who do more transections. If you want to sign a bitcoin transaction you’ll need to create a partially signed bitcoin transaction on your device before you can finally sign that transaction.
5. Ledger Hardware wallets
Ledger Hardware wallets is at number 5 because ledger suffered a data breach in mid 2020. It turns out that 272000 customer home addresses, telephone numbers and names were released into the wild including around 1 million email addresses.
Ledger Nano S
Ledger Nano S price is around 70 USD having the ability to store 27 coins and more than 1500 tokens. The cryptocurrency accounts on leger device is managed using the ledger live desktop app in a super simple to store send and receive crypto. However only 3 to 6 applications can be stored on your ledger nano s device. It means that for large portfolios you many face the frustrated of constantly uninstall and reinstall apps to manage all those cryptos. The security is strong enough and ledger integrates a host of web3 wallets like Metamask which are almost mandatory. Some of the supported cryptos are: BTC, ETH, XRP, Bitcoin Cash, EOS, Stellar and many more. For checking the total list visit the official website.
Ledger Nano X
The top 5 budget friendly hardware wallets for keeping your cryptocurrency safely and securely. If you have already entered in cryptocurrency and you have invested in in crypto for long term perspective and you have a future plan, then it would be better to keep your cryptocurrency securely inside a good hardware wallet.
The Ledger Nano S was the original hardware wallet, however those interested in ledger also have a newer option to consider that would be the Ledger Nano X. It has a bigger pretty screen, better build quality and Bluetooth connectivity that allows you to use the device with the ledger live app on your mobile. This price of Ledger Nano X is around 175 dollars.
Finally those altcoin dabblers who have pushed crypto diversification to the limits will be pleased to know that the Ledger Nano X can install up to 100 apps. This wallet support 5500+ cryptos and tokens including Bitcoin, XRP and Ethereum. If you’re considering a ledger hardware wallet then the question you should be asking is if all those additional features are worth paying double the price? For low budget, beginners Ledger Nano S is good and Ledger Nano X is could be appealing to those that hold crypto portfolios of different coins.
So these are 5 best hardware wallets to secure and safe your cryptocurrency.